Oct 4, 2012 6:00am EDT
on the economy but another part of it. this is segment 3, the economy -- entitlements. the first question goes to you, mr. president. do you see a major difference between the two of you on it? -- on social security? >> we have a somewhat similar position. it is socially sound. it will have to be tweaked. the basic structure is sound. i want to talk about the values behind social security and medicare. medicare is the big driver of our deficit. my grandmother helped to raise me. my grandfather died a while back. my grandmother died three days before i was elected president. she was independent. she worked her way up. she only had a high school allocation. -- education. she ended up being the vice- president of a local bank. she ended up living along by choice. -- living alone by choice. the reasonshe could be independent because of social security and medicare. she worked all of her life, and understood there was basic floor under which she could not go. the name "entitlements" implies some sense of dependency on the part of these people. these are people who have worked hard. like my grandmot
Sep 28, 2012 1:00am EDT
. there is no way for us to get our economy going until we have addressed the cost of health care. when i talk to small businesses and large corporations, after peril, their biggest item is the cost of benefits -- after payroll, their biggest item is the cost of benefits. that has to be priority number one camp that is why i disagreed with the president's approach. he should have made economic case for why we need to get a handle of health care costs. >> you have talked about wasteful spending in washington. you have issued statements about that night could be mentioned loopholes. those are difficult things to define for some people. give me one example of wasteful spending and a loophole. >> wasteful spending is the 30 cents on every health care dollar that goes to the health insurance industry that has nothing to do with patient care. that is wasteful spending. wasteful spending is the fact that the federal government is prohibited from negotiating on pharmaceutical pricing. the bush drug benefit forces to negotiate for the best price. that is and $80 billion giveaway. >> what is a loophole?
Oct 4, 2012 2:30am EDT
because when the economy is going slow like this, you should not raise taxes on anyone. the economy is still going slow. it is growing more slowly now than when he made that statement. if he believed the same thing -- the reality is it is not just wealthy people. it is not just donald trump you are taxing. it is the people that employ one-quarter of the workers that are taxed as individuals. you raise taxes and kill jobs. that is why the national federation of independent businesses said your plan will kill 7000 jobs. >> let's stay on the tax system for a moment. to reduce the deficit there has to be revenue in addition to cuts. >> governor romney has ruled out revenue. >> the revenue i get is by more people working, getting higher pay, pay more taxes. that is how we get growth and balance the budget. the idea of taxing people more and putting people out of work -- you'll never get there. spain spends 42% of their total economy on government. we are now spending 42% of our economy on government. i want to go to the path of growth that puts americans to work with more money coming in